The fundamental Coase of development: property rights foundations of the effective state

Piano, Ennio E.; Salter, Alexander William

doi:10.1017/s1744137420000260

Cited by 11 publications

(4 citation statements)

References 86 publications

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“…Their contribution also extends the recent literature on the "political Coase theorem" Munger 2019). Piano and Salter (2020) analyze political property rights at length in medieval Western Europe, the Italian Renaissance city-states, and the myriad of Germanic polities following the Peace of Westphalia. For our purposes, what matters is their conclusion: "State capacity does partly explain economic development.…”

Section: Recent Challenges To State Capacitymentioning

confidence: 59%

“…Without a political property rights explanation, the "effective state" is a black box. Piano and Salter (2020) conclude that the institutional contingencies associated with state capacity diminish its usefulness as a general concept, and hence as a causal explanation for the Great Enrichment. Because state capacity varies greatly across time and space, focusing on it as an abstract category will not help us much in understanding economic and political development.…”

Section: Recent Challenges To State Capacitymentioning

confidence: 88%

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The Medieval Constitution of Liberty

Young¹,

Salter²

2023

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Lauren, for her dedication as a spouse and mother. (You, Rowan, and Ainsley are my inspiration!) Luna, Claire, and Sage, their mischievous Havanese, also deserve kudos (and treats!). Andy thanks his wife, Kaylee, for her constant love and support. (I am better in everything I do because you are with me.) He also acknowledges the "moral support" of Simba, Sophie, Sookie, and Cha Cha: they are always happy to see him at the end of the day (even if they don't quite appreciate what he's been working on).1. Bolt et al.

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Section: Recent Challenges To State Capacitymentioning

confidence: 59%

Section: Recent Challenges To State Capacitymentioning

confidence: 88%

The Medieval Constitution of Liberty

Young¹,

Salter²

2023

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“…Meanwhile, most scholars do mention that fiscal statesin addition to being able to taxhave the ability to issue paper money or borrow (e.g. Bonney, 1999;Cardoso and Lains, 2010;He 2013;Moore, 2004;Piano and Salter, 2021). While issuing paper money was a central part of early state-building, many contemporary states are not monetarily sovereign; their currencies are not in demand, they are indebted in foreign currencies, they are part of monetary unions, and they face global pressure not to conduct monetary policy (Gevorkyan and Kvangraven, 2016;Smith, 2021;Sylla, 2020).…”

Section: What Are the Revenue Sources Of Fiscal States?mentioning

confidence: 99%

Conceptualizing the fiscal state: implications for sub-Saharan Africa

Jeppesen

Bak

Kjær

2023

Journal of Institutional Economics

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This paper contributes to the debate on domestic revenue mobilization and state-building in the Global South by exploring the concept of fiscal states and the common assumption that such states are present in sub-Saharan Africa. We systematically review the diverse understandings of the fiscal state across relevant literatures to revisit its conceptualization. On that basis, we define the fiscal state as a state whose public revenue base is dominated by tax revenue and loans, and where the relationship between taxation and external and domestic borrowing is balanced and thereby sustainable and characterized by interdependence. We distinguish the fiscal state conceptually from the tax, debt, and rentier states and present a typology of these ideal state types, discussing illustrative empirical examples of different states in sub-Saharan Africa. These illustrate that not all sub-Saharan states can be categorized as fiscal states. This is important because when African states are regarded as fiscal states, assumptions are made about their economic structures; yet, to the extent that these are absent, fiscal policy reforms are unlikely to carry long-term positive effects.

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“…It is established in the literature [1][2][3] that economic development can be boosted by enforcing property rights. If the latter are insecure, players are forced to allocate some resources to protecting their output, which could be subject to expropriation, meaning a war is likely to explode.…”

Section: Introductionmentioning

confidence: 99%

Insecure Property Rights and Conflicts: How to Solve Them?

2022

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According to the leading literature, the valid enforcement of property rights is a key ingredient for economic development. However, their enforcement can be problematic in international relations, which can be a valid approximation of an anarchic or state of nature environment. In such a context, we do not have a third party that may sanction any illegal behaviour, since the existing international organizations may lack the necessary power to force countries to behave in a specific way. A large variety of papers have attempted to provide a self-enforcing solution to a conflict among players by defining a bargaining range, which may prevent the emergence of a war. Hence, players renounce the fight and leave peacefully, enforcing de facto property rights. In contrast, we propose a model in which contestants decide to solve their dispute by forming a union. The latter can be interpreted in a broad sense, also encompassing the possibility that they form a new political entity. We highlight the welfare implications of that solution and define the non-empty set of parameters, which support such a decision in the long run. Intuitively, from a dual perspective, the model also discloses the circumstances that may lead players to deviate from the union path and split. Therefore, our paper contributes to the literature about the formation and breakdown of countries, although our primary concern is to present a model with an innovative solution to conflicts. Moreover, our work stresses the importance of the enforcement of property rights to guarantee the peaceful development of relations among countries.

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The fundamental Coase of development: property rights foundations of the effective state

Cited by 11 publications

References 86 publications

The Medieval Constitution of Liberty

The Medieval Constitution of Liberty

Conceptualizing the fiscal state: implications for sub-Saharan Africa

Insecure Property Rights and Conflicts: How to Solve Them?

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